Southampton Memorial Hospital
dba Bon Secours - Southampton Medical Center ·
Franklin, Southampton County, VA
· CCN 490092
Licensed to Bon Secours Mercy Health Franklin Llc
Composite
65.8
rank score
Distress
87
FY2023
Fit
62
vs thesis
Estimated ticket
$31.5M–$126M
90 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- occupancy below 30%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size somewhat below the envelope
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $51.4M |
| Operating margin | -19.1% |
| Total margin | -17.4% |
| Days cash on hand | 0 |
| Current ratio | 0.58 |
| Occupancy | 9% |
Facility
| Beds | 90 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 75 | $40.3M | $-9.8M | -26.3% | -23.8% | 0 | 2.80 | 24% | 1,268 | 80 |
| 2021 | 75 | $46.9M | $-9.8M | -23.4% | -20.4% | 0 | 0.95 | 20% | 1,233 | 92 |
| 2022 | 90 | $57.5M | $-3.3M | -9.8% | -5.5% | 0 | 0.96 | 14% | 1,171 | 82 |
| 2023 | 90 | $51.4M | $-9.1M | -19.1% | -17.4% | 0 | 0.58 | 9% | 996 | 87 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bon Secours Hampton Roads Health System Inc | 5% or greater direct ownership interest | 100 | 2020-01 | |
| Bon Secours Mercy Health Inc | 5% or greater indirect ownership interest | 100 | 2020-01 | chain |
| Angela Reddix | corporate director | 2026-01 | ||
| Ann Kirk | corporate director | 2025-01 | ||
| Brian Yanofchick | corporate director | 2020-01 | ||
| Corey Mccray | corporate director | 2024-01 | ||
| Cynthia Romero | corporate director | 2020-01 | ||
| David Cannady | corporate director | 2023-01 | ||
| Dawn Glynn | corporate director | 2024-01 | ||
| John Snellings | corporate director | 2026-01 | ||
| John Starcher | other | 2020-01 | ||
| Jonathan Haynes | corporate officer | 2022-01 | ||
| Jonathan Haynes | corporate director | 2022-01 | ||
| Jonathan Haynes | w-2 managing employee | 2022-01 | ||
| Joy Jefferson | corporate director | 2025-01 | ||
| Kevin Clark | corporate director | 2026-01 | ||
| Kimberly Ralston | w-2 managing employee | 2020-01 | ||
| Patricia Davis-Hagens | corporate director | 2021-10 | ||
| Raymond Mccue | corporate director | 2026-01 | ||
| Teresa Beale | corporate director | 2022-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2020-01-01 | change of ownership | Bon Secours Mercy Health Franklin Llc | Franklin Hospital Corporation |
Who has been buying in VA
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2021-04-01 | Maryview Hospital Llc | Bon Secours Depaul Medical Center Llc | Maryview Hospital Llc | 176 |
| 2020-01-01 | Bon Secours Mercy Health Franklin Llc | Franklin Hospital Corporation | Southampton Memorial Hospital | 90 |
| 2020-01-01 | Bon Secours Mercy Health Emporia Llc | Emporia Hospital Corporation | Southern Virginia Regional Med. Ctr. | 70 |
| 2020-01-01 | Bon Secours Mercy Health Petersburg Llc | Petersburg Hospital Company Llc | Bon Secours Southside Medical Center | 300 |
| 2020-01-01 | Inova Health Care Services | Loudoun Hospital Center | Inova Loudoun Hospital Center | 189 |
| 2017-10-01 | Danville Regional Medical Center Llc | Phc-Martinsville Inc | Danville Regional Medical Center | 205 |